CapLaw-2026-13

  • NZZ’s Stake Increase in APG SGA – APG Shareholders Approving Opting-up 

    On 23 January 2026, APG SGA AG announced that its shareholders approved a so-called opting-up provision clearing the way for Aktiengesellschaft für die Neue Zürcher Zeitung (NZZ) to increase its stake from 25% to 45% by acquiring shares from existing shareholders JCDecaux SE and Pargesa Asset Management SA. The transaction is based on a share price of CHF 220 resulting in a total value of CHF 132m; closing is expected in the second quarter of 2026.

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    CapLaw

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